Money Transfer Between Accounts

System

This discussion was created from comments split from: How do I move Quicken Deluxe from Windows to Mac?.

Pleasehelp

After working with the conversion for several days, I'm trying to solve the problem of money transfer between accounts. When purchasing shares of stocks in Windows the process is open account and click on ENTER TRANSACTIONS and within the window that appears is a box "Use cash for this transaction" and gives options of which account the funds would come from which allows the transfer feature between accounts.

I do not find this option in Quicken Mac. The files moved from the Windows to Mac show correctly moved between the accounts but since then, when entering a new stock purchase on the Mac the only way I can see to make it work is to make two entries; one to place the stock in the brokerage account and another to remove the money from the bank account.

Bear in mind, I do not link to any external (bank or brokerage) account in all the years of using the Quicken Windows and prefer to do the same on the Quicken Mac. But, I do like being able to use the transfer feature on Windows that I am hoping exists on the Mac and I haven't figured out where to enable it.

Appreciate any help.
Ken

Quicken Jared

Pleasehelp said:

After working with the conversion for several days, I'm trying to solve the problem of money transfer between accounts. When purchasing shares of stocks in Windows the process is open account and click on ENTER TRANSACTIONS and within the window that appears is a box "Use cash for this transaction" and gives options of which account the funds would come from which allows the transfer feature between accounts.

I do not find this option in Quicken Mac. The files moved from the Windows to Mac show correctly moved between the accounts but since then, when entering a new stock purchase on the Mac the only way I can see to make it work is to make two entries; one to place the stock in the brokerage account and another to remove the money from the bank account.

Bear in mind, I do not link to any external (bank or brokerage) account in all the years of using the Quicken Windows and prefer to do the same on the Quicken Mac. But, I do like being able to use the transfer feature on Windows that I am hoping exists on the Mac and I haven't figured out where to enable it.

Appreciate any help.
Ken

Hello @Pleasehelp,        

I am sorry for any confusion you may have experienced. I am grateful to you for reaching out to the Quicken Community for further discussion of this matter.

Unfortunately, an equivalent feature of the kind you had been utilizing in Quicken Windows does not currently exist in Quicken Mac. The method that you had devised wherein you create two entries and set the stock in the account while also removing the money from the account is the primary way of achieving a transfer between accounts.

You can, of course, always search the Idea threads here on the Quicken Community for user-submitted suggestions of features that would be desirable. You can then vote on them along with other members of the community in order to present them to the development team for further consideration. I believe a thread regarding a posited feature very much like the one you describe exists here:

https://community.quicken.com/discussion/7329180/add-ability-to-transfer-shares-between-investment-accounts-in-quicken-for-mac-183-legacy-votes

Also, I want to be sure, are you saying that you do not connect to online banking services and only enter transactions and securities manually? 

I look forward to any correspondence with you.

Thanks,

Quicken Jared 

Pleasehelp

Hi Jared. Thanks for your reply. And yes, correct in that I do NOT connect to any online banking services. I enter all transactions and perform security buying and selling manually. I know I'm a dinosaur with regard to modern technology but I am an old fart and it just terrifies me to have too much personal data floating around.

I'll check out the link provided in hope there is something there to help.
thanks again,
Ken

Perry Smith

@Pleasehelp  In the brokerage accounts I have (real life accounts in such places as E*Trade and Fidelity), I must move money from my checking into the account and then I can buy stock -- two entries.  Quicken Mac uses the same idea / concept.  Transfer money from checking to the brokerage account.  This is done with a "Type" of "Payment/Deposit" at the very bottom of the list of possible types.  When you pick that, the entry form changes to something closer to a normal entry in other, non-brokerage accounts.  i.e. it has a category, payee, etc.

Then you can buy the shares.  As you say, it is two entries but I wasn't sure you found the "Payment/Deposit" under the "Type".

Pleasehelp

Hi Perry. Thanks for pointing this out. I'm spoiled in that I'm moving the Quicken files from a windows to a Mac. In Windows the transfer feature simply asks what account monies will come from for stock purchases and what account the monies will go to in event of stock sales, dividends, etc which makes for only one entry. I'm disappointed in the extra work. It looks like it's going to be extra work too as it is time for me to reconcile my statements. I really can't understand why Quicken would have this valuable feature for Windows and not Mac.